Fuji wins appeal in Xerox shareholder litigation

Fujifilm Holdings came away with a victory in court this week after rulings in litigation brought against the company by Xerox Corp. shareholders were reversed or dismissed in appellate court.

Darwin Deason, a top Xerox shareholder, was involved in several lawsuits against Xerox and Fujifilm in relation to a proposed transaction between the two companies. Deason said the transaction would hurt Xerox shareholders, and that former CEO Jeff Jacobson continued to negotiate the deal after Xerox management officials ordered him to stop. Xerox said Jacobson was authorized to continue negotiations.